CDPR to Sell Santander Zinc Mine to Peruvian Investment Firm Amid Debt Reduction Plan

Cerro de Pasco Resources (CDPR)

Canadian natural resources company Cerro de Pasco Resources (CDPR) has agreed to sell its Santander zinc and lead mine in Peru to a Peruvian investment company as part of its ongoing debt reduction strategy, the company confirmed on Tuesday.

Located 215 km from Lima, the Santander site includes an underground mine and a 2,000 t/d processing mill. Operations were placed in care and maintenance in mid-2023 due to low zinc prices, with the company reporting a net loss of $3.7 million for the three-month period ending June 30, 2024, primarily as a result of the production cutback.

CDPR originally acquired the Santander mine from Canadian miner Trevali at the close of 2021, marking the company’s entry into mining operations at the site.

CDPR has now shifted its focus towards developing its fully owned asset, the El Metalurgista mining concession in central Peru.